Items shown in the balance sheet as asset includes
...Items shown in the balance sheet as asset includes
Debit balance on drawings account
Debit balance on a customer's account
Credit balance on the capital's account
Credit balance on a supplier's account
Correct answer is B
The items which are generally present in all the balance sheet includes assets like cash, inventory, account receivable, investments, prepaid expenses and fixed assets.
Which of the following is prepared to ascertain the trader's capital under incomplete records? ...
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April 11: Sold goods for cash N50,000 April 20: Bought goods for cash N30,000 April 26: Boug...